Growing Copper Thickness at Coppermine Raises Questions on Project Scale

Exploration Breakthrough at Coppermine

Somerset Minerals Limited (ASX, SMM) has delivered encouraging early assay results from its flagship Coppermine Project in Nunavut, Canada. The first two drill holes of the recent campaign, JURC005 and JURC006, have intersected wide zones of high-grade copper mineralisation, reinforcing the continuity of the system initially identified in earlier drilling.

JURC006 notably returned 59.4 metres grading 1.50% copper from 83.8 metres depth, including a standout 19.8 metres at 3.54% copper starting at 117.3 metres. Similarly, JURC005 intersected 27.4 metres at 1.49% copper from 83.8 metres. These results build on the previous highlight from hole JURC001, which intersected 42.7 metres at 2.69% copper near surface.

Growing Potential at Depth

Importantly, the true thickness of the mineralised envelope appears to increase with depth, suggesting that the copper system is expanding as drilling progresses deeper. The mineralisation remains open in all directions, with the current drilling reaching approximately 160 metres below surface. This bodes well for the potential scale of the deposit, which Somerset is keen to delineate further.

Complementing the drilling, Somerset has completed ground-based induced polarisation (IP) and electromagnetic (EM) surveys over the Jura North and South areas. These geophysical surveys aim to test the depth and strike continuity of the mineralisation and identify potential parallel zones. Results from these surveys are expected shortly, adding another layer of insight into the project’s geology.

Broader Regional Prospects

The Coppermine Project covers a vast 1,665 square kilometres in the Kitikmeot region, hosting multiple high-priority targets across four districts, Laphroaig, Ardbeg, Jura, and Oban. Each district shows promising signs of copper mineralisation, with historical data and recent rock chip sampling supporting Somerset’s exploration strategy.

Somerset’s Managing Director, Chris Hansen, highlighted the significance of these early Phase 2 results, noting that they confirm the continuity of high-grade copper mineralisation and underscore the project’s scale potential amid a strengthening copper market. The company anticipates assay results from six additional drill holes within the next 4 to 6 weeks, which could further define the resource and enhance investor confidence.

Looking Ahead

Somerset is advancing a dual-track exploration approach, combining detailed drilling at Jura with broader regional geochemical and geophysical surveys. This strategy aims to unlock multiple copper discoveries across the extensive landholding. With historical exploration dating back decades but limited recent activity, the Coppermine Project represents a compelling opportunity to uncover a significant copper system in a geopolitically stable jurisdiction.

As the company awaits further assay and geophysical data, market participants will be watching closely to see if Somerset can translate these promising early results into a substantial resource that can meet the growing demand for copper globally.